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Elements of Product Planning for Nanotechnology: Focus on Consumer Products

Elements of Product Planning for Nanotechnology: Focus on Consumer Products.

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Elements of Product Planning for Nanotechnology: Focus on Consumer Products

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  1. Elements of Product Planning for Nanotechnology: Focus on Consumer Products

  2. After more than twenty years of basic and applied research, nanotechnologies are gaining in commercial use. Nanoscale materials now are in electronic, cosmetics, automotive and medical products. But it has been difficult to find out how many “nano” consumer products are on the market and which merchandise could be called “nano.”

  3. Health and fitness items continue to dominate the PEN inventory, representing 56 percent of products listed. More products are based on nanoscale silver—used for its antimicrobial properties—than any other nanomaterial; 313 products (24 percent of the inventory) use silver nanoparticles. The updated inventory represents products from over 30 countries, including the US, China, Canada, Germany, and India. This update also identifies products that were previously available, but for which there is no current information.

  4. Nanoproducts continue to rise

  5. Nano by category

  6. Personal care is key subcategory

  7. USA leads here

  8. Nanomaterial

  9. Product Decisions for Marketing Strategy Planning(Exhibit 9-1) Product idea Brand Package Warranty Product classes Elements of Product Planning for Goods & Services

  10. Product Quality and Customer Needs The Project on Emerging Nanotechnologies' inventory of nano-containing products has grown nearly 400 percent since its 2006 launch. Cosmetics and personal care items are among the types that appear most frequently among its more than 1,000 items.

  11. Relative Quality What They Say “25,000 microlifts* for results in a flash. Rénergie Microlift Serum features microlifters enhanced with a powerful tensing agent to immediately tighten skin for an instant lifting effect that lasts all day. Apply Rénergie Microlift Serum under Rénergie Microlift Cream targeting specific areas to reinforce the tightening and lifting benefits.” Source “Microlifters are made of nano-particles of silica and proteins form a network to immediately lift and tighten skin.”

  12. Companies have added nano lines

  13. All of these brands have nano products/lines

  14. Conditions Favorable to Branding Product quality and good value Dependable, widespread availability Easy to label and identify Key Issues Favorable shelf or display space Market price can be high enough Economies of scale

  15. Brand Preference Brand Recognition Brand Non-Recognition Brand Rejection Achieving Brand Familiarity Is Not Easy Brand Insistence

  16. Brand Familiarity After using Elmer glue as a child, now we have Nano Glue

  17. The Right Brand Name Can Help Short & Simple Easy to Spell & Read Easy to Recognize & Remember Easy to Pronounce Can Pronounce in Only One Way Can Pronounce in All Languages Suggests Product Benefits Meets Packaging/Labeling Needs No Undesirable Imagery Always Timely Adapts to Any Advertising Medium Legally Available for Use

  18. Protecting Brand Names & Trademarks Lanham Act You Must Protect Your Own Counterfeiting Is Accepted In Some Cultures

  19. The Strategic Importance of Packaging Packaging Can Enhance the Product Packaging Sends a Message Packaging Can Lower Distribution Costs UPC Codes Speed Handling

  20. What Is Socially Responsible Packaging? Packaging Can Hurt Environment Consumer Evaluation of Eco Impacts Socially Responsible Packaging Issues Federal Fair Packaging and Labeling Act Ethical Decisions Remain

  21. Warranty Policies Are a Part of Strategy Planning Promises in Writing Magnuson-Moss Act Support May Be Costly May Improve Marketing Mix Service Guarantees

  22. Consumer Products Business Products Product Classes Help Plan Marketing Strategy Doxil® ALZA Corporation (USA) ■Anti-cancer drug for the treatment of refractory ovarian cancer and AIDS-related Kaposi’s sarcoma”

  23. Business Products Are Different Derived Demand Inelastic Industry Demand Tax Treatments Differ

  24. Nano is in the consumer market "This is not to say that nanotechnology is a far-off, fuzzy, futuristic technology. It is not. It has already established a beachhead in the economy. The clothing industry is starting to feel the effects of nanotech. Eddie Bauer, for example, is currently using embedded nanoparticles to create stain-repellent khakis. This seemingly simple innovation will impact not only khaki-wearers, but dry cleaners, who will find their business declining; detergent makers, who will find less of their product moving off the shelf; and stain-removal makers, who will experience a sharp decrease in customers. This modest, fairly low-tech application of nanotechnology is just the small tip of a vast iceberg--an iceberg that threatens to sink even the "unsinkable" companies." http://www.nanotech-now.com/current-uses.htm

  25. Assignment: Nano in Consumer Markets • Go to http://www.nanotech-now.com/current-uses.htm • It’s a great site with a plethora of nano information. • Read the new uses of nanotechnology and brainstorm with your group of 10 products that you can create with nanotechnology. • Have fun and be creative. http://www.nanotech-now.com/current-uses.htm

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